Money

By Julia Horowitz, CNN Business Mention the word “stagflation” to someone who followed the economy in the 1970s, and you can expect a strong reaction. The phenomenon — which describes a period of high inflation and stagnant economic growth — was a nightmare for policymakers, leaving them with few options to rein in runaway prices

By Ramishah Maruf, CNN Business Sears will shut the doors on its last department store in Illinois come fall; the state in which its first retail store opened in 1925. The Sears department store in the Woodfield Mall in Schaumburg, a Chicago suburb, will close on November 14. Transformco, which acquired Sears Holdings after the

By Ramishah Maruf, CNN Business German sports retailer Puma is collaborating with Nintendo’s Animal Crossing: New Horizons, bringing a few elements of the popular world-building game to real life. The new collection, which launched Saturday, has dozens of products for adults and children, featuring sneakers and clothing in pastel shades festooned with animal characters and

By Peter Valdes-Dapena, CNN Business After Bart Schoenfeld’s Chevrolet Bolt EV was recalled for the second time, he’d had enough. GM had warned that some of the cars could have a manufacturing defect that might cause them to catch fire. For safety’s sake, the automaker recommended Bolt owners restrict their use of the car to

By Chauncey Alcorn, CNN Business The Federal Deposit Insurance Corporation on Thursday unveiled a new fund to increase investments made with the nation’s minority-owned and mission-driven banks, helping them expand economic opportunities in the communities they serve. The FDIC said the Mission-Driven Bank Fund has raised at least $120 million since 2019 from a number

By Anneken Tappe, CNN Business The pandemic has been rough for for many working parents, with work-life balance going out the window as child care options closed and schools went virtual. They battled through — but now the new school year is kicking off as the Delta variant spreads and young children remain ineligible for

By Matt Egan, CNN Business David Rubenstein is shrugging off fears of runaway inflation and concerns about looming tax hikes. The private equity billionaire is far more worried these days about the state of American democracy. “We don’t have bipartisanship. We have enormous amounts of tension between the two parties,” Rubenstein, co-founder of the Carlyle

By Tal Yellin and Janie Boschma, CNN Employees in five industries will especially feel the effects of the new vaccine mandate — management, utilities, information, finance and insurance, and administration and waste management services. More than 80% of the workforce for those five industries are employed by businesses with a staff of at least 100

By Matt Egan, CNN Business In March 2020, the US economy faced the specter of a financial crisis and a full-blown depression as Covid-19 crippled American society. That nightmare scenario was avoided, in large part because of an unprecedented response from the federal government that included stimulus checks, small business loans and emergency credit programs.

By Philip Wang, CNN Business The World Bank says it will stop publishing its annual Doing Business economic report after an independent investigation found bank leaders placed “undue pressure” on staffers to alter data to inflate the rankings for China and Saudi Arabia in 2018 and 2020 editions of the report. The bank commissioned the

By Anneken Tappe, CNN Business It’s been a wobbly week on Wall Street and CNN Business’ Fear and Greed Index is flashing “Fear.” The stock market is in a weird place. It has fallen in most of the trading sessions this month. The S&P 500, which is the broadest measure of the US stock market,

Opinion by Jennifer M. Granholm for CNN Business Perspectives The image of a collapsed electrical tower and power lines that Hurricane Ida tossed into the Mississippi River illustrated a fundamental challenge facing the nation: Our power systems weren’t built to withstand extreme weather events. Without major investments to reinforce, modernize and clean our grid, the

By Julia Horowitz, CNN Business “Delta? What Delta?” That was the take from Ian Shepherdson, chief economist at Pantheon Macroeconomics, after seeing the data on US retail sales for August. What’s happening: Contrary to expectations, US retail sales increased last month as consumers continued to shell out on clothing, furniture and groceries. It’s a promising